Hi Moose11. I haven't followed CCC very much for a while now....

Hi Moose11. I haven't followed CCC very much for a while now. Just glance, mainly on news. Sometimes miss news altogether, so maybe I'm missing something, but I think sell. There's bugger all in SA. Ferr is marginal business, never went to plan. Costs too high. Didn't generate any significant cash even in coal price spike. Vlak going probably better than expected right but but remember they only effectively own, what is it? 40pc or something of that. There's botswanna. But JB promised news "next week" on that was it 6 months or so ago. Can it be going to plan? The Mashalla guys recommended giving those leases up. I think they were probably right. Just costing money and years and years to any potential production even if worked out. Was a good story for CCC to spin some blue sky on to raise some money but that's about all. As for Columbia, what rubbish! Deliver minor quantity at the gate. Margins look good, of course with no transport cost! No infrastructure etc, pipe dream. That leaves Penn. Sounds ok but likely delays? Plus, only have CCC story that going to be profitable. They have said that a lot. Not happened yet. (They did report a profit but was from other income that was technical I believe). Perhaps before this recent raise, you could have looked at that mess and gave them the benefit of the doubt that one day the cash flow they talk about would actually appear in the accounts. With this raising though they show an insatiable and unexplained need for cash. I would run for the hills. The stock is holding so perhaps I'm wrong. Stocks are strange beasts in distress though. I was short Parmalat shares in Europe when the went bankrupt. I couldn't buy them back. Everyone knew it was a big fraud that had liked about having billions of cash and yet still the share held right into delisting when it was still worth hundreds of millions. (I of course got effective value of zero for my short after that, they were worthless!). You never know why a stock trades where it does for short periods. Here I guess they may have arranged some buying power to keep the stock up as they arrange to issue. Whatever, this is probably just an opportunity to get out on very bad news.